Monday, January 04, 2016

Malaysian(S) To Watch in 2016

KL, Mon 4 Jan 2016

Not everyone agreed with my choice of Prime Minister Najib Razak as Malaysian of the Year 2015. I had expected that, of course, but I think it would be harder to disagree with my choice for the Malaysian to Watch in 2016: Mr Arul Kanda.

The 1MDB chief, who helped Najib successfully execute an ambitious rationalisation scheme to resolve the Government's strategic investment arm's debts in just 6 months [1MDB completes rational plan as promised], has a great deal more to do. It's not mission accomplished yet. Arul has got to turn 1MDB around in 2016 and he's go to do that under circumstances which are likely to be as hostile, if not even more so, than in 2015.

That brings me to my candidate for The Other Malaysian to Watch in 2016: YB Tony Pua. The DAP young gun, who sits on the bipartisan Public Accounts Committee (PAC) that is investigating 1MDB, is really going out of his way to be extra hostile towards Arul Kanda, prompting a fellow PAC member to tell Pua to "stop playing games".

"The 1MDB chief, who helped Najib successfully execute an ambitious rationalisation scheme to resolve the Government's strategic investment arm's debts in just 6 months, has a great deal more to do. It's not mission accomplished yet. Arul has got to turn 1MDB around in 2016 and he's go to do that under circumstances which are likely to be as hostile, if not even more so, than in 2015."

Ummmmmm, Latuk.

You seem to be confused.

There is absolutely nothing left to turn around.

All the assets are gone, bar 40% of Bandar Malaysia:

Edra sold to China at a financial loss, AFTER 1MDB overpaid in the first place. 60% of Bandar Malaysia is now in Chinese hands (local & foreign). With this land sale, 1MDB will reduce its RM49 billion liabilities (as shown in its 2014 accounts) by RM25 billion. (RM17.5b from IPP sale and RM7.5b from BM land sale). That still leaves RM24 billion plus another RM10 billion in exchange rate losses (against the US$) = RM34 billion to pay off.

Where is the money coming from, if they have sold off all their assets and BM will only start generating income in, at the earliest, about 3 years time?

The term "fire sale" mean anything to you?

No?

"Asset stripping"?

Ah, ok. So you do get it.

Sorry, why is Mr Botak Thamby a "Malaysian to Watch"?

I would keep a much closer eye on his boss, personally.

Watch your pockets, especially.

PS: How to "turn around" a dead, smelly whale with no assets? Well, you can sell it to China as long as they get an even bigger railway contract as the "prize" for disposing of the dead body.

“The Treasury has told Parliament that 1Malaysia Development Bhd had used its own funds, and not a loan from tycoon T Ananda Krishnan, to settle a RM2 billion debt with Malaysian banks. In a written reply, the Finance Ministry said 1MDB had settled the loan last month using its own funds from its Cayman Islands account and not with the help of Ananda Krishnan as had been reported.”

This was a WRITTEN REPLY in Parliament, mind you. This is a lie told in Parliament.

Liang Tick is a joke, just like his party is a joke. He accuses Pua of making political capital out of the PAC? But no-one is making more political capital than Liang himself. Get a mirror, Liang. Staring back at you, you'll see some hopeless ass-licker hoping for a senatorship once your party gets reduced from its current 2 MPs to zero. You sad, sad little man.

You played your part in the 1MDB business model, i.e. buy up national assets at "donation prices", sell out nation, get investigated in 6 countries, then do an emergency sale of all your assets to foreigners. (Oh and don't forget to run up nearly RM50 billion in debt, and ask shady Indians and Arabs to rescue you.)